Lease Rental Discounting - Axis Bank

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12. I/We undertake that I/We shall ensure that no modification shall be made in the
Lease Agreement without the written prior permission of the Bank.
13. I/WE undertake that in the event of premature termination of tenure of the Lease,
the Bank shall be intimated forthwith. Further I/We shall ensure forthwith and /or
arrange to give the said premises on leave and license basis to any third party
and securitize the lease rentals to the Bank and shall ensure that the new lessee
will be bound on the same terms and conditions of the existing Lease Agreement,
to pay the lease receivables directly to the Bank and shall obtain such
documents and undertaking as may be required and or demanded by the Bank.
In the event, I/We is/are not able to get a new Lessee for the premises then, I/We
undertake to repay the entire outstanding dues to either repay the entire
outstanding dues forthwith to the Bank.
14. I/WE undertake that I/WE shall do all acts, deeds and things necessary, if any
required by the Bank, from time to time, to give effect to the above adjustment
of said Receivables towards the dues of the Bank.
15. I/WE also agree and undertake to give such declarations, undertakings and other
writings as may be required by the Bank, their Advocates and Solicitors and
satisfactorily comply with all other requirements submitted by or on behalf of the
Bank.
16. I/WE am not aware of any act, deed, matter or thing or circumstances, which
prevents the Bank from adjusting its dues against the lease rentals as above.
AND I/WE make the aforesaid declaration solemnly and sincerely believing the same
to be true and knowing fully well that on the faith thereof, the Bank has agreed to
sanction the loan to me/us for the purpose as aforesaid mentioned.
Solemnly affirmed at )
This day at ) __________________________
BEFORE ME (Seal) ) Signature
NOTARY PUBLIC
Name:
)